|
Hiscox Ltd is attracting bid interest and could be up for a sale, with Japan’s Sompo Holdings Inc and Italy’s Assicurazioni Generali Spa eyeing a potential acquisition, a trade publication reported on Monday. The Hamilton, Bermuda-based insurer could be set up for a sale, according to Insurance Insider. https://www.insuranceinsider.com/article/2dgvx116em397q42ewjcw/london-market/hiscox-ownership-in-the-spotlight-as-suitors-circle Sompo is a Tokyo-based provider of property and casualty insurance. Assicurazioni Generali is a Trieste, Italy-based general insurer. In May, Hiscox posted healthy growth in first quarter insurance contract written premiums, despite a drop in the London market which followed the non-renewal of a large contract. Insurance contract written premiums totalled $1.54 billion in the first-quarter of the year, a rise of 8.3% from $1.42 billion a year prior. In Hiscox Retail, there was growth of 8.1%, while in the reinsurance and insurance-linked strategy unit, it climbed 19%. Hiscox shares were up 12% to 1,255.00 pence midday Monday in London, giving it a market capitalisation of around £4.28 billion. Assicurazioni Generali shares were 0.6% higher at €23.93 each in Milan. Copyright 2024 Alliance News Ltd. All Rights Reserved.
|
